Chipotle Mexican Grill, Inc. $CMG Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC has reduced its stake in Chipotle Mexican Grill by 7.7%, selling 525,921 shares during the second quarter, bringing its total holdings to approximately 6.3 million shares.
• Analysts have varying ratings on Chipotle's stock, with a consensus target price set at $57.55; BTIG Research maintains a "buy" rating, while others have lowered their target prices.
• Chipotle Mexican Grill reported earnings of $0.33 per share for the last quarter, slightly surpassing expectations, with revenues totaling $3.06 billion, a 3% increase year-over-year.

William Blair Investment Management LLC lessened its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,276,424 shares of the restaurant operator's stock after selling 525,921 shares during the period. Chipotle Mexican Grill makes up approximately 0.9% of William Blair Investment Management LLC's portfolio, making the stock its 17th biggest holding. William Blair Investment Management LLC owned 0.47% of Chipotle Mexican Grill worth $352,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Chipotle Mexican Grill during the first quarter worth $25,000. Saudi Central Bank acquired a new position in Chipotle Mexican Grill during the first quarter worth $27,000. 1248 Management LLC acquired a new position in Chipotle Mexican Grill during the first quarter worth $27,000. Signature Resources Capital Management LLC acquired a new position in Chipotle Mexican Grill during the second quarter worth $28,000. Finally, HighMark Wealth Management LLC grew its holdings in Chipotle Mexican Grill by 173.4% during the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CMG. BTIG Research reiterated a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, September 5th. Guggenheim decreased their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Chipotle Mexican Grill in a research report on Wednesday, October 8th. Barclays decreased their target price on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Finally, Citigroup decreased their target price on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.55.

Chipotle Mexican Grill Stock Up 0.4%

Shares of NYSE:CMG opened at $41.93 on Friday. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74. The stock's fifty day simple moving average is $41.11 and its 200-day simple moving average is $47.35. The company has a market capitalization of $56.22 billion, a P/E ratio of 37.43, a P/E/G ratio of 2.52 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the business earned $0.34 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.

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